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 How to Earn Bitcoin Online

If you want to earn Bitcoin online, this is a post that will help you do just that. Bitcoin is the world's first peer to peer crypto-currency that isn't controlled by any central issuing agency but is rather an open source protocol that is followed by all the people who participate in the economy. No one can manipulate the supply of Bitcoins and all transactions that take place in this economy are cryptographically verified through a process called Bitcoin mining. Your Bitcoins are as secure as public key cryptography can be.

Once you understand and appreciate the concept of Bitcoin, the next logical question is, how do you earn some Bitcoin? Here are some ideas -

Make money online and convert them to Bitcoin

Believe it or not, it is still much easier to make US Dollars! You can then exchange these dollars you make for Bitcoin at any of the exchanges such as Bitstamp or Coinbase if you're located in the US.

Earn Bitcoin Directly in the Bitcoin economy

There is a small but very vibrant community where you can do most tasks, but at a much smaller scale. For instance, you can take up a part-time job for Bitcoin on Coinality or you can end up with a small gig on Coingig. These are real life equivalent of sites like Elance and Fiverr but in the Bitcoin ecosystem.

Advertising

The advertising industry in the Bitcoin economy is, not surprisingly, pretty robust. This is because there are ton of new Bitcoin based services that keep coming up all the time and they all need a good advertising network.

CoinURL allows you to place Google AdSense styled ads on your website and other services like Bitads lets advertisers bid for banner space on your blog. There is also a-ads that allows you to make money through ad impressions without reference to the clicks (so it isn't PPC). If you're a publisher - blogger or webmaster, you can earn some Bitcoins through this route.

Going Social

There are sites that will pay you for your activity. CoinChat is perhaps the best known site in this category. It pays users a few milli-Bitcoins for chatting on their site. These are random and controlled by an algorithm that takes into account your activity and how well you're contributing to the discussions at hand.

Another way in which a lot of Bitcoin enthusiasts earn some Bitcoin is by selling their forum signatures at Bitcointalk forums. There are a good number of advertisers who are willing to do this, and for the socially active member who values interaction through this forum (it is the same forum through which Satoshi Nakamoto introduced Bitcoin to the world), selling signatures can be lucrative.

How to Participate in the Bitcoin Economy

The Bitcoin economy is increasing at a rapid rate, as more and more startups enter the sphere and try to offer traditional services but using Bitcoins. You have everything from a marketplace of books aka Amazon style but only in Bitcoins to advertising platforms similar to Google AdSense but in the Bitcoin economy. As Bitcoin goes more mainstream, these are only going to increase in number and scope, thus presenting a wonderful opportunity to get on board with this at an early stage.

The big advantage of entering the Bitcoin economy now is that you'll get in on this technology at the 'innovator stage' and you'll have the opportunity to be one of the leaders. Businesses that operate in the current Bitcoin economy also enjoy a free publicity of their business within the Bitcoin community. Everything from gyft that accepts Bitcoins to purchase store gift cards to EVR bar that became popular in the highly competitive bar and lounge scene in New York by accepting Bitcoin as payment currency for drinks.

The advantages of being part of the Bitcoin community should also be obvious - literally zero transaction fees for trans-continental money transfers, instant transfer of money without any third-party delays and ability to reach everyone on the planet who has access to the internet.

The micro Bitcoin economy is already flourishing. Now you can do the traditional micro-tasks from agencies such as CrowdFlower on the Bitcoin platform and earn your first Bitcoins that way. If you're a business, there are plenty of good opportunities to advertise your business to the Bitcoin audience through services like Coin URL.

On a personal finance front, it is best to keep a secure wallet online at one of the trusted wallet services and then start earning some small amounts of Bitcoin just to get a feel for how this economy functions and how you can leverage this. If you have access to both fiat and Bitcoin in a liquid market, there are plenty of opportunities where you can pay in one and receive in the other to get the most out of your business. The market is still not perfect and there are arbitrage opportunities through exchanges and goods and services.

Being part of the Bitcoin economy at this exciting stage should prove highly beneficial to your business as well. You'll be able to reach an audience that would otherwise be very hard to woo - the people at the technological forefronts of our society.